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Saturday, 06 September 14
DRY BULK MARKET'S PROSPECTS ARE IMPROVING, DESPITE WEAK SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The dry bulk market has been rebounding during the past month, with the Baltic Dry Index (BDI) ended the week on a high note, reaching 1,155 points, a much better performance than the one noted during the past few months, when it had reached levels well below the 800-point mark. According to a recent market analysis provided by dry bulk ship owners Golden Ocean, “the second quarter took the dry bulk industry by surprise. It did not live up to expectations forecasted by most analysts following the sector.
Capesize vessels earned on average $11,900 per day compared to $16,300 per day the previous quarter. This is still almost twice as much as the same quarter in 2013. The Panamax segment was even a bigger disappointment and earned on average $6,300 per day which was even lower than the same quarter previous year”.
Golden Ocean noted that “Chinese steel production has grown by approximately six percent in the first half of 2014 from the previous six month period, which was in line or even above the consensus forecast. Analysts have also been right in their fleet growth assumptions, so the relatively disappointing fleet utilization has to be explained by other reasons. Continued weak Chinese coal and bauxite import has meant a plentiful supply of Panamaxes to put pressure on Capesize through ratios in the coal trade. Coal demand from China has been considerably lower than anticipated due to more available hydro power and increased use of natural gas.
Chinese imports and production of thermal coal each declined by one percent in the first half of 2014 compared to the first half of 2013. In addition, the ban on exports put in place by the Indonesian Government for nickel ore and bauxite, and a relatively moderate South American grain season did not support the smaller segments which again have a negative impact on Capesizes. China has been drawing down on bauxite and nickel ore inventories for the last six months and unless the ban is lifted sourcing has to take place from longer distances”, said the ship owner.
It added that “iron ore, which is the main demand driver for the Capesize segment, has lived up to its expectations. China alone imported 457 million mt in the first half of the year, representing an increase of 19 percent year on year. The three major suppliers in Australia (Rio Tinto, BHP and FMG) have pushed forward their expansion plans and are expected to add another 130 million mt of extra commodity this year.
Brazil is also adding capacity and if the country is going to reach its target of 350 million mt for 2014 a ramp up has to take place in the second half of 2014. This should support the freight market given the longer sailing distances to Far East. Prices of international ore have been under pressure and should support imports versus domestic Chinese production going forward”.
According to Golden Ocean, “approximately 11 million dwt of new dry bulk capacity was delivered during the second quarter of 2014, compared to 16 million dwt the previous quarter. Scrapping has been fairly stable and four million dwt was removed from the tonnage list last quarter. As a consequence of a softer freight market, ordering of new vessels came down compared to the previous quarter.
Available data is showing that orders for 14 million dwt of new capacity were signed during the second quarter of 2014, half of what was reported during the first quarter of 2014. The present order book represents approximately 19 percent of the existing fleet”.
Meanwhile, according to the owner, “after several quarters of steady rise in asset values, prices corrected down. The Capesizes however were holding better up than the smaller segments and according to sale and purchase brokers modern vessels (maximum 5 years old) were priced three percent lower by the end of June compared to end of March 2014, while Panamaxes and Supramaxes lost between 5 and 10 percent compared to end of March 2014, depending on age and country where built.
The positive development in newbuilding prices seems to have had a halt in the quarter and a minor negative correction has been observed”, it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 11 August 14
SGX CFR SOUTH CHINA COAL SWAPS DIRECTION HEADING TO NORTH
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.50 (+0.74%) day on day and US$ 1.55 (+2.33%)&nbs ...
Monday, 11 August 14
A TALE OF TWO TRADES - EVA TZIMA
COALspot.com: It has without a doubt been “a cruel, cruel summer” for the Dry Bulk market so far and with second hand values still stan ...
Sunday, 10 August 14
FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com: This week the BDI and other segments saw some improvements. The BDI increased by 3.46 pct week on week and closed at 777 points.
...
Friday, 08 August 14
MINING DISPUTE IS CRIPPLING LOCAL ECONOMIES IN EASTERN INDONESIA - JG
- By Iwan Harsono -
It seems as if there’s no end in sight to the series of negotiations between the government and mining companies about ...
Friday, 08 August 14
CAPESIZE RATES ARE REMAINING MORE OR LESS UNCHANGED AT BOTTOM LOW LEVELS - FEARNLEYS AS
Handy
An improving sentiment with stronger rates and fair demand for prompt tonnage in the Atlantic, both on the Continent and in the Med for the ...
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Showing 3551 to 3555 news of total 6871 |
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- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Australian Coal Association
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- The University of Queensland
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
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